In the news release, American Superconductor Receives Order for PowerModule(TM) Electronic Converters to Be Utilized in Fuel Cell System for Hybrid Electric Bus, issued earlier today by American Superconductor Corporation (Nasdaq: AMSC) over PR Newswire, the ticker for Hydrogenics Corporation (Nasdaq: HYGS) should have been included in the news release. Complete, corrected release follows:
WESTBOROUGH, Mass., Sept. 28 /PRNewswire-FirstCall/ -- American Superconductor Corporation (NASDAQ:AMSC), a leading electricity solutions company, today announced that it has received an order from Hydrogenics Corporation (NASDAQ:HYGS), a global fuel cell developer and manufacturer. The order for three PowerModule(TM) PM1000 power electronic converters follows Hydrogenics' initial trials with AMSC's PowerModule PM1000 Developer Kit (PDK). The PM1000 power converters will be utilized in the propulsion system for a full size, forty foot, transit bus to be initially demonstrated in Winnipeg, Manitoba. The bus will be the first in Canada to be powered by a hybrid configuration of fuel cells and ultra capacitors. AMSC's PM1000 power converters will manage and regulate electricity produced by the fuel cells and will regulate power for the bus's electric drive system. The project is expected to be completed in the spring of 2006 and is being funded in part by the Government of Canada (Natural Resources Canada).
Each of the bus's three 65 kilowatt (kW) HyPM(TM) fuel cells from Hydrogenics will utilize a PM1000 converter, which provides regulated output power for the bus's electric drive system. This critical ability enables the bus's electric drive system to operate over the fluctuating output voltage range of the fuel cell generators and will be a key element in optimizing the energy management for the propulsion system, a special challenge for this project. The operation of the PM1000 power converters will be coordinated with Hydrogenics' proprietary system controller through high speed Controlled Area Network (CAN) communications.
"By first utilizing the PowerModule Developer Kit, or PDK, Hydrogenics was able to rapidly assess the most effective way to meet their needs for power conversion and management for their hybrid bus project," said Chuck Stankiewicz, vice president and general manager of AMSC's Power Electronic Systems business. "Their experience with the PDK allowed them to quickly finalize the design of the power conversion portion of their system and to order additional PM1000 power converters to meet the requirements for the bus project -- a perfect example of how the PDK reduces development time for power conversion systems." AMSC's PowerModule PM1000 power converters provide the tools and platform for electric system designers to quickly develop both hardware and software elements for power conversion systems ranging from 60 kilowatts (kW) to multi- megawatts (MW) for a wide array of applications. PowerModule PM1000 power converters have proven their reliability and versatility in a variety of applications ranging from renewable energy -- such as wind turbines and fuel cells -- to military applications such as pulsed power. Nearly one thousand PowerModule converters have been used successfully over the last five years to power AMSC's dynamic reactive compensation systems (D-VAR(R)) on the power grid and at industrial sites in North America and Europe.
To learn more about PowerModule PM1000 Developer Kits or to order PM1000 power converters, please see http://www.amsuper.com/products/powerConversion/index.cfm.
About Hydrogenics (NASDAQ:HYGS) (TSE:HYGS.TO) Hydrogenics Corporation is a leading global developer of clean energy solutions, advancing the Hydrogen Economy by commercializing hydrogen and fuel cell products. The company has a portfolio of products and capabilities serving the hydrogen and energy markets of today and tomorrow. Hydrogenics, based in Mississauga, Ontario, Canada, has operations in North America, Europe and Asia. http://www.hydrogenics.com About American Superconductor Corporation (NASDAQ:AMSC) AMSC is the world's principal vendor of high temperature superconductor (HTS) wire and large rotating superconductor machinery, and it is a world- leading supplier of dynamic reactive power grid stabilization products. AMSC's HTS wire and power electronic converters are at the core of a broad range of new electricity transmission and distribution, transportation, medical and industrial processing applications, including dynamic reactive power grid stabilization solutions, large ship propulsion motors and generators, smart, controllable, superconductor power cables and advanced defense systems.
The company's products are supported by hundreds of patents and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricity(TM). More information is available at http://www.amsuper.com.
American Superconductor and design, AMSC, POWERED BY AMSC, Revolutionizing the Way the World Uses Electricity, and PowerModule are trademarks and D-VAR is a registered trademark of American Superconductor Corporation. All other trademarks are the property of their respective owners.
Any statements in this release about future expectations, plans and prospects for the Company, including statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include: uncertainties regarding the Company's ability to obtain anticipated funding from corporate and government contracts, to successfully develop, manufacture and market commercial products, and to secure anticipated orders; the risk that a robust market may not develop for the Company's products; the risk that strategic alliances and other contracts may be terminated; the risk that certain technologies utilized by the Company will infringe intellectual property rights of others; the competition encountered by the Company, including several large Japanese companies. Reference is made to these and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operation" section of the Company's most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this release. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date this press release is issued.
Contact Information Media
Wanda Whitson 508-621-4454
American Superconductor Investors
Kevin Bisson 508-621-4220
American Superconductor DATASOURCE: American Superconductor Corporation CONTACT: Media: Wanda Whitson, +1-508-621-4454, , or Investors: Kevin Bisson, +1-508-621-4220, , both of American Superconductor Web site: http://www.amsuper.com/
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